MemeLand’s Captainz NFTs Stay Afloat Amid Market Slump

Although non-fungible tokens don’t have the same buzz they did back in 2021, the nascent Web3 technology appears to be making a slow and steady comeback, and some collections are reaping the rewards.

One of those collections is Memeland’s Captainz NFTs, a utility-based collection that has been rising in floor price and total volume sales across several NFT marketplaces this week. Over the past seven days, the Captainz NFTs have racked up 2,429 ETH in total trading volume and their floor price has risen by 18% to reach 7.89 ETH.

The success of the collection spurred NFT marketplace X2Y2 to post the following Tweet:

Memeland is a Web3 venture studio created by 9GAG, a Hong Kong-based meme-centric entertainment website that launched in 2009. 9GAG has more than 200 million followers across several social media platforms that Memeland (first announced in 2022) hopes to leverage for Web3 ventures. According to the studio’s website, one of the companies goals is to “under-promise and over-deliver.”

Let’s take a closer look at the Captainz NFTs and how they’ve managed their success.

What are the Captainz NFTs?

The Captainz NFT collection consists of 9,999 utility-based NFTs that minted on January 4th, 2023, over a 48-hour open mint period. The price of mint was 1.069, and in the first five days of existence the collection did more than $9 million in trading volume. In other words, this isn’t the first time the Captainz are making headlines.

One reason behind the NFT collection’s wild success is that the NFTs are utility-packed. Here are some of the perks Captainz NFT holders enjoy:

  • Access to private club membership, upcoming 9GAG projects and drops, and IRL events.
  • Access to the creator NFT marketplace.
  • Complete ownership and commercial rights of the NFTs.

The PFP NFTs come with rarity-powered traits inspired by internet memes, pirates, and pop culture. The NFTs also represent the premier level membership of Memeland.

Top NFT Projects This Year

The recent success of the Captainz NFTs is exciting news for members of the 9GAG and Memeland community. But it’s not the only NFT project this year making waves in the market. Here are some of the most recent stories about rising NFT projects in 2023.

First, last month, the Nakamigos NFT collection from HiFo labs rose to become a Top 10 collection on OpenSea. One reason the collection has been successful is because Nakamigos created honorary NFTs for popular influencers in the space. The collection has done over 31,190 ETH on OpenSea, at the time of writing.

Next, three months ago, Porsche saw a rise in the floor price of its ‘Porsche 911’ NFT collection price on secondary marketplaces like OpenSea. The price surge came after the luxury car company responded to its community’s wishes and halted its mint after only 2,363 tokens were created. Shortly after, the floor price reached as high as 3.3 ETH per NFT.

Finally, three months ago, Visualize Value became the catalysts for a new NFT meta with its “Checks VV” NFT collection. During the 24-hour open mint period, 16,027 “Checks VV Open Edition NFTs” minted for $8 each. The current floor price of a Checks NFT is .42 ETH (about $850).

2022 took a lot out of the NFT market, and it’s going to take some time before we return to the “good-old-days” in the NFT space. But some projects are clearly finding ways to stay relevant and bring their holders value. Whether Memeland’s popular collection can continue its momentum in the space remains unknown, but for now, the Captainz NFTs are on top.

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